Big July job losses threaten recovery

TORONTO – A rising unemployment rate and job
losses across the country are the latest evidence our economy is shakier
than Conservatives claim, according to New Democrat Finance critic
Peggy Nash.
Latest numbers released by Stats Can show Canada was hit by the
second worst monthly job losses since 2009. With over 50,000 people
losing their jobs, and over thirty thousand net jobs lost, our
unemployment rate has now ballooned to 7.3%.
“We have witnessed three consecutive months of weak job numbers –
and now we see some of the worst monthly job losses in three years. But
Conservatives continue to ignore the warning signs,” said Nash “And
their short-sighted cut first and answer questions later budget will
only make the problem worse, not better.”
Today’s numbers paint a picture of an economy still struggling to
recover from the 2008 collapse. With almost thirty thousand jobs lost in
Quebec, almost 15,000 in B.C. and over three thousand in Manitoba and
Newfoundland, signs of a weak economy can be seen from coast to coast to
coast.
“Hardest hit have been the self-employed and young people—vulnerable
workers who often don’t even qualify for EI. Conservatives are
mismanaging the economy and putting ideological-driven cuts ahead of
shoring up a weak economy,” said Nash. “Canadians are looking to
Minister Flaherty to stop congratulating himself and start taking action
to help.”
“Conservatives have an opportunity to meet with Premiers this fall
about the economy and use their Economic Update to take action,”
concluded Nash. “Or will we just see a repeat of their do-nothing 2008
Economic Update?”